Apple Inc (NASDAQ:AAPL) is expected to launch a new version of its entry-level iPhone SE, as well as a revamped iPad Air tablet and possibly a new version of the Mac operating system at a virtual event on Tuesday.
The new SE, which will be the third version, is expected to have a starting price of US$399 as part of the company’s efforts to release more affordable phones, as well as being 5G compatible.
A new iPad Air with faster chips is also likely to be on the agenda for chief executive Tim Cook, as well as a new Mac version.
According to the broker Wedbush, Apple’s ability to churn out new products while the technology and automotive industries deal with a chip shortage is “Teflon-like” and it believes investors are underestimating the pent-up demand for Apple products after the chip supply chain issues curtailed growth.
The analysts add that 30mln units is a conservative estimate figure for the iPhone SE sales within the first year, citing that there there is particular pent-up demand for this version.
Wedbush also states that Apple could eat into Android’s share gains with the SE, believing the “value proposition for consumers is a standout relative to competitors”.
The broker maintains its outperform rating, with a target price set at US$200, adding that Apple is a safe tech name in times of war and market volatility.